NPCI starts auditing data localisation norms for digital payment firms

Bengaluru: Retail payments organisation National Payments Corporation of India (NPCI), which operates various payment instruments including Unified Payments Interface (UPI), has asked all its digital payment platform members to provide a system audit report on ‘Storage of Payment System Data in India’, as per a letter dated 6 May.

The auditing of data localisation norms is significant because it allows safeguarding, security and governance of payments data of Indian consumers.

The letter, citing indicative guidelines for a system audit from NPCI, however, comes almost two years after the RBI issued a directive in this regard, stating that “it is observed that not all system providers store the payments data in India”.